US Dollar Index Price Analysis: Extra downside remains in the pipeline
|- DXY briefly tested the sub-93.00 area on Thursday.
- Further south emerges the YTD lows in the mid-92.00s.
DXY managed to rebound from the area below the 93.00 yardstick on Thursday, or fresh weekly lows. The bullish attempt, however, lost traction in the 93.40/45 band.
Solid resistance is located in the 94.00 region so far and the inability of the index to surpass this area – ideally in the short-term – should open the door to the resumption of the bearish trend.
The offered stance in the dollar is expected to remain unchanged while below the 200-day SMA, today at 97.80.
DXY daily chart
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